Explain Why the Value of GDP in 2014 Would or Would

question 57

Essay

Explain why the value of GDP in 2014 would or would not change as a result of each of the following transactions:
a.In 2014,the Smith family purchases a new house that was built in 2014.b.In 2014,the Jones family purchases a house that was built in 2001.c.In 2014,a construction company purchases windows to put in the Smith family home that was built in 2014.d.In 2014,Mr.Jones paints all of the rooms of the Jones family house purchased in 2014.e.In 2014,Mr.Smith uses an online brokerage service to purchase shares of stock in a construction company.

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Definitions:

Mirror Neurons

Neurons that fire both when an individual acts and when the individual observes the same action performed by another, thought to play a role in learning and empathy.

Simulate

To imitate or replicate the appearance, function, or conditions of (something) for study, training, or analysis.

Observational Learning

The method of learning that occurs through observing the behavior of others and the outcomes of those behaviors.

Classical Conditioning

An associative learning process where a neutral stimulus comes to elicit a response after being paired with a stimulus that naturally brings about that response.